Europe’s economy grew faster than the U.S. last year – Jan. 30, 2018

Sure, the United States is growing at a nice clip. But Europe’s economy is expanding at an even faster rate.

Economic growth in the 19 countries that use the euro currency was 2.5% in , according to official data published Tuesday. Growth in the 28-member European Union also reached 2.5% last year.

It’s the best period of growth for both groupings since 2007, putting just ahead of the 2.3% expansion posted by the U.S. in 2017.

Europe, which has suffered years of anemic growth caused by a series of debt crises, is part of a global economic resurgence that could continue in 2018.

“Anything the U.S. economy can do the eurozone economy can do, slightly better it seems,” said Jacob Deppe, head of trading at online currency broker Infinox Capital.

“With both the U.S. and eurozone growing in tandem and with Asian economies on a roll, the hope is that 2018 delivers continued growth, further confidence and economic stability for the first time in a decade,” he added.

europe economy boom
Europe’s economy strengthened in 2017.

The improving economic picture in Europe helped boost the euro to $1.25 this month, an increase of 21% from its low of $1.03 at the start of 2017.

 

 

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